Kelley Morrell has joined Blackstone as a managing director & head of asset management for the firm’s tactical opportunities business, effective immediately.

“We are excited to have Kelley join Blackstone,” David Blitzer, Blackstone’s global head of its tactical opportunities group, said in a prepared release. “She has a strong track record of successfully managing complex situations with various stakeholders across multiple industries. We look forward to her delivering that expertise and judgment to our portfolio.”

Morrell most recently worked at CIT, serving as executive vice president & chief strategy officer, helping the financial holding company shape its strategic direction following its emergence from bankruptcy. The company now has more than $50 billion in assets.

In her new positions, Morrell will be responsible for ongoing management and oversight of the group’s investment portfolio. Additionally, she will be tasked with creating and driving added-value initiatives alongside the investment team.

“I am thrilled to have the opportunity to join Blackstone Tactical Opportunities,” Morrell said in the release. “It’s an innovative strategy with a diverse and differentiated portfolio of investments, and I am looking forward to leading the group’s asset management effort for the benefit of our investors.”

Extensive experience

Over her career, Morrell also held the position of senior director of the U.S. Treasury’s Automotive Industry Financing Program during the Obama Administration, where she was responsible with overseeing the taxpayer’s investments in Chrysler Financial and Chrysler Group.

She graduated magna cum laude from Harvard College and received her MBA with distinction from Harvard Business School.